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FSD Ethiopia has announced the resignation of its CEO, Ermias Eshetu, who is stepping down to pursue other interests after serving two years at FSD Africa and FSD Ethiopia.

According to a press release posted on FSD website on December 7, 2023, Ermias informed the Board of his decision, and the Board will commence the process of identifying a new CEO in the coming weeks.

“Mr. Eshetu has confirmed his commitment to working with the FSD Ethiopia Board Chairman and other Board members on various matters to ensure a smooth transition,” reads the statement.

Established in 2021, FSD Ethiopia is an agency with a mission to support the development of accessible, inclusive, and sustainable financial markets for economic growth and human development.

Funded by the UK’s Foreign, Commonwealth & Development Office and the Bill & Melinda Gates Foundation, the agency provides technical assistance, grants, research, and insights to market actors in both the public and private sectors.

Ermias Eshetu previously served as the CEO of Ethiopia Commodity Exchange (ECX) for three years and held several managerial positions throughout his career.

According to FSD Ethiopia, its funders have reaffirmed their full commitment to the ongoing program in Ethiopia.

“The Board of FSD Ethiopia thanks Ermias for his energy and dedication in bringing FSD Ethiopia into existence,” said Admassu Tadesse, the Chair of FSD Ethiopia.

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Kaleab, Shega's Editor-in-Chief, Specializes in Reporting on Small Businesses, Innovation, Technology, and Startups in Ethiopia